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Mayor Adams, Speaker Adams unveil $22m investment in NYC cultural institutions

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New York City Mayor Eric Adams and City Council Speaker Adrienne Adams have announced a transformative investment of over $22 million into the city’s cultural sector, marking a significant commitment to supporting the vibrant arts and heritage landscape of the city.

This unprecedented investment, allocated over the next three fiscal years as part of the FY 2025 Executive Budget, underscores the city’s dedication to bolstering its renowned cultural institutions.

A substantial portion of this funding, amounting to $18.3 million, will be directed towards the 34 esteemed members of the Cultural Institutions Group (CIG), which includes museums, performing arts centers, historical societies, zoos, and botanical gardens that play integral roles as community anchors and economic drivers across all five boroughs.

WATCH: Mayor Adams Announces Investment of $22+ Million in City’s Cultural Institutions

Mayor Adams emphasized the pivotal role of arts and culture in driving New York City’s economic rebound and reaffirmed the city’s commitment to nurturing its creative community.

“Our people, arts, and culture are the heart and soul of New York City, and they are crucial to our economic recovery,” stated Mayor Adams. “This investment of more than $22 million underscores our commitment to supporting the invaluable contributions of our cultural organizations.”

City Council Speaker Adrienne Adams echoed this sentiment, emphasizing the essential nature of cultural investments in sustaining New York City’s status as the global capital of arts and culture.

“New York City’s cultural institutions are vital to our identity and economic vitality,” said Speaker Adams. “Today’s announcement represents an important down payment to ensure the continued success of our arts sector.”

The funding will also allocate $4.3 million to the Cultural Development Fund (CDF), supporting over 1,000 cultural nonprofits citywide. This broad investment underscores the city’s recognition of the diverse array of cultural organizations that contribute to New York City’s dynamic cultural landscape.

Deputy Mayor for Housing, Economic Development, and Workforce Maria Torres-Springer highlighted the significance of this investment in preserving and advancing New York City’s artistic vibrancy.

“Art and culture are foundational to New York City’s identity, driving economic growth and fostering community engagement,” remarked Deputy Mayor Torres-Springer. “This funding will ensure that our city’s vibrant artistic community continues to thrive and inspire.”

The investment in the city’s cultural institutions reflects Mayor Adams’ commitment to advancing initiatives that promote equitable access to arts and culture across all five boroughs. The announcement aligns with broader efforts to revitalize the city’s cultural sector, leveraging its economic potential and enriching the lives of New Yorkers.

The restoration of funding for cultural institutions has been met with widespread support and appreciation from leaders and stakeholders within the arts community, who recognize the profound impact of these investments on the city’s cultural ecosystem and economy.

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